Fintech Trumid recently reported its November 2023 performance stats.
Trumid noted in a blog post that the electronic bond trading platform announced record monthly activity. Trumid, a financial technology company and fixed income electronic trading platform, is reporting record trade volume and user participation highlights for the last month.
Key November Highlights shared by Trumid are as follows:
- Record reported average daily volume (ADV) of $4.6B, up 74% year-over-year.
- The continued expansion of liquidity and client activity on the platform set a new all-time high for the average number of users executing a trade each day, up nearly 60% versus November 2022.
- Over 1,000 traders have transacted on Trumid each month this year.
As noted in the update shared by the company, Trumid’s broad range of trading protocols has reportedly “helped to unlock valuable network liquidity.
A record average number of bonds “traded each day across Trumid’s Anonymous, Attributed Trading, Portfolio Trading, and RFQ trading protocols in November.”
Other key stats are as follows:
- Significant growth was seen in Trumid’s new RFQ trading protocol with traded volume up 40% month-on-month.
- Over 1,000 unique traders have utilized Trumid RFQ since launch.
As mentioned in the announcement, Trumid continued its rapid pace of product development. Recent enhancements include:
New in Trumid PT:
- Flexible List negotiation
- Client Bond Exclusions and analysis framework
- Spot-on-Demand
- FIX API phase two (for dealers)
New in Trumid RFQ:
- Trade Best button and visibility of firm/subject quotes
- Estimated price/spread/yield calculations for quotes in the RFQ quotes panel
- T+0 corporate settlement
As covered, Trumid is a financial technology company and fixed income electronic trading platform focused “on US dollar-denominated Investment Grade, High Yield, Distressed, and Emerging Market bonds.”
Trumid optimizes the credit trading experience by “combining agile technology and market expertise, with a focus on product design.”
According to the firm, the result is “a differentiated ecosystem of protocols and trading solutions delivered within one intuitive platform.”
Trumid Financial LLC is “regulated by the SEC and is a member of FINRA and SIPC.”